Free Trial

E-MINI S&P TECHS: (H4) Bull Trigger Remains Exposed

EQUITY TECHS
  • RES 4: 4915.11 1.236 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 3: 4900.00 Round number resistance
  • RES 2: 4854.75 1.00 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 1: 4841.50 High Dec 28 and the bull trigger
  • PRICE: 4820.75 @ 06:49 GMT Jan 15
  • SUP 1: 4702.00 Low Jan 05
  • SUP 2: 4690.70 2.0% 10-dma Envelope
  • SUP 3: 4679.50 50-day EMA
  • SUP 4: 4594.00 Low Nov 30

S&P E-Minis have remained above the Jan 5 low and the contract traded higher last week. Key resistance and the bull trigger is unchanged at 4841.50, the Dec 28 high. A break of this level would resume the uptrend and open 4854.75, a Fibonacci projection. Support at the 20-day EMA of 4770.92 has recently been pierced. A clear break of this average would strengthen a short-term bearish threat and open the 50-day EMA, at 4679.50.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.